The internet is not what it was supposed to be. Originally envisioned as a tool that connected the world to bring opportunities to everyone, it evolved to become the opposite. Now, despite the increasing power of internet monopolies, a new movement is looking to make the original idea of the internet a reality: Web3.
If you believe the previous statements were an exaggeration, you might be surprised to hear that the internet’s inventor agrees with them. Sir Tim Berners-Lee, who invented the world wide web back in 1989 while working for CERN, expressed this belief in a blog post:
“I’ve always believed the web is for everyone. That’s why I and others fight fiercely to protect it. The changes we’ve managed to bring have created a better and more connected world. But for all the good we’ve achieved, the web has evolved into an engine of inequity and division; swayed by powerful forces who use it for their own agendas.”
Berners-Lee is now leading Solid, a Web3 project that is looking to change the internet by making it more modular to offer true data ownership to its users. Just like Berners-Lee with Solid, a host of developers are working on projects that could help Web3 become a reality.
But what is Web3 in the first place? Web3 aims to be the next step in the evolution of the internet, bringing decentralization to a technology that has become highly centralized. What this means is that data silos, censorship, tracking, and monopolies will be a thing of the past.
The Web3 movement has gained ground over the past years, especially with the increasing adoption of blockchain technology and cryptocurrency. The synergy between blockchain and Web3 has become so clear that it is now hard to envision one without the other. This is especially true as cryptocurrencies offer a means for Web3 to take advantage of a decentralized economy.
The cryptocurrencies of blockchain projects related to Web3 have seen an increase in value as a result. Polkadot, Chainlink, FileCoin, and BAT, are examples of such success, creating a new Web3 economy for investors to participate in. Now, with Web3 continuing to make headlines, crypto investors are wondering if they should buy the dip.
Cameron Lee, Laguna’s CMO; Leah Peterson, Business Development Manager at Telos; and Anne Ahola Ward, Co-founder & CEO at CircleClick; joined Entrepreneur Magazine’s Eric Christopher to discuss how to invest in the Web3 economy. The panel took place as part of Grit Daily House’s schedule during Consensus 2022, allowing attendees to learn insights directly from those shaping the future of Web3.
If you missed the chance to attend Grit Daily House in person and to hear what these experts had to say about the future of Web3 and how to invest in it, worry not. Not only will you be able to watch the panel in the video below but you can also find other panels on Grit Daily’s official YouTube Channel.